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They are charging him a 35 fee to borrow the money for 22

Jack is beginning a new job but has not yet been paid. He needs $750 to pay his rent this month. Jack is going to borrow the money through a Payday Loan establishment. They are charging him a $35 fee to borrow the money for 22 days until he receives his first paycheck. What is the actual APR that Jack is being charged?

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Business Management: They are charging him a 35 fee to borrow the money for 22

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Business Management: They are charging him a 35 fee to borrow the money for 22

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